Performance in H2 would be quite close to H1: Anoop Kumar Gupta, KRBL

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We were quite aggressive on the sale side and that is why on our margins, our revenues and EBITDA, PAT have gone up in absolute term, Anoop Kumar Gupta, Joint MD, KRBL, tells ET Now.

Edited excerpts:

When we spoke to you last a couple of weeks, ago there were multiple challenges. There was an inquiry going on and the management said they had nothing to do with it and it is business as usual. What has been the picture like for KRBL for the quarter gone by?

I do not have the numbers in front of me but Q2 is very good compared to Q1.

You are in the export market as well. How much of your top line and bottom line numbers got a boost because of weak currency?

No, 80% of the currency we already held because we were drawing the money through a dollar route. So, there is no appreciation on account of currency but our top line includes 50% domestic and 50% exports. So margins basically have reduced from 26% to 19.5%. But we were quite aggressive on the sale side and that is why on our margins, our revenues and EBITDA, PAT have gone up in absolute term.

How is your financial performance likely to pan out given the demand in the export market in the second half of this year? What will be the key drivers because there is talk about scaling back in global growth trends?

I will say H2 would be quite close to H1. As far as export market is concerned, the demand is good, there is no issue as far as basmati rice is concerned. It is still major consumption item and a staple in Middle East.

Is an Iran deal on rice in the works?

Iran would definitely buy the rice. November 4 is the date for the issues of some currency but they have already suggested that they would be buying the rice against rupee payment. So Iran would be a big buyer. They buy about a million tonne from India and they cannot afford not to buy.